in europe this year, we saw that the economy was slowing down. we had to compensate. the team really fights when those things happen to try to compensate for the macro. we try to compensate by being more aggressive and getting more merchants and doing more promotions. we are their share of checkout volume. when we have macro events, the team tries to compensate. >> in the u.s., your growth is hard to see at a micro level. what are you seeing on the economic environment? >> this quarter was supposed to start. the holidayat shopping season, it was pushed late. other than that, things are looking better and better. >> you have done so many acquisitions. we wereme about beacon. just talking about this. how do you describe it? >> we want to change how people shop. people love shopping. they hate pain. >> does that come cheap? >> everybody is like that. we want to remove the friction and make a completely invisible to pay. we did that. you can go into a coffee shop, like you did, and you just walk in. your phone vibrates, so you know you are checked in. your photo appears o